Salesforce, Inc. (NYSE:CRM) Q3 2023 Earnings Call Transcript

Page 6 of 6

Kirk Materne: That’s great.

Mike Spencer: Great. Thanks, Kirk. Bo, let’s take our last question now.

Operator: Certainly. That last question will come from Sarah Hindlian-Bowler at Macquarie Capital.

Sarah Hindlian-Bowler: Great. Thank you so much. I really appreciate you squeezing me in. And I’ll add my congratulations and best wishes to you, Bret. Hopeful that you have an incredible opportunity in front of you. This was a question for Amy. I think one topic that we touched on, you mentioned briefly on the call where your retention rates, which continues to be a great way to add revenue that’s really high margins. So maybe we could drill down into that a little bit, what you’re doing to drive your retention rates higher? And maybe how some of the product bundling or suite strategy plays into that would be helpful as well? Thanks Amy.

Amy Weaver: So Sarah, let me start by saying, it’s great to have you back as a covering analyst for our stock and to hear your voice on this call. Yes, on attrition or retention rates, I’m really, really pleased to see where we were this quarter. Again, record lows. I think it says so much about our team to support that, but also our customers and their occasion to us and the size of sales force has become so mission-critical. I’m actually going to turn this over to Brian, because if there is an expert in the company on attrition and what we’re doing for our customers, it’s Brian. So Brian, do you want to add on thing?

Brian Millham: Amy, thank you. I appreciate it. I’ll quickly address it. Thank you, Sarah, for the question. First of all, I think it’s part of our heritage, our DNA, as a customer success is the core value of ours, and we own it across the entire company. So it’s not just the success teams with services teams that the entire organization from product to our financial teams. Everyone owns customer success. We’ve made some investments in the way that we go to market touching our customers more frequently from a success perspective, and the motions that we’re running. As I mentioned earlier, customers from the industry cloud perspective, where we’re seeing better adoption rates there and better usage. We’ve also made some strategic investments in our own services organization alongside a great ecosystem of partners as well that are driving better implementations upfront, faster time to value for our customers and better results from a customer success perspective.

And some of the motions that we’re running that are new, great leadership under a gentleman named Jim Roth, who’s running our success organization; Lori Steele, who joined us to run our services organization; and now has turned over the reins to Mark Wakelin, doing great work with our customers, very oriented to speed to value and ensuring they’re getting tremendous customer success on our platform.

Mike Spencer: Great. Thanks, Sarah. And thank you, everyone, for joining the call today, and we look forward to seeing everyone over the next few weeks. Take care.

Operator: Thank you. Again, ladies and gentlemen, that will include Salesforce’s Fiscal 2023 Third Quarter Results Call. I’d like to thank you all so much for joining us, and wish you all a great evening. Goodbye.

Follow Salesforce Inc. (NYSE:CRM)

Page 6 of 6